Pricer Ab (publ) Stock Earnings Reports

Key points for investors: Pricer reported its best quarter of 2025 (Q3) with net sales of SEK 598m and improved gross profit and margins (quarterly margin ~23%, return on sales 6.5% for Q3). Recurring revenue jumped (~50% quarter-on-quarter vs prior quarter) driven by a strategic shift: software and older installs are migrating to subscription pricing (Pricer Plaza and recurring licence model). The company returned to positive EBIT on a year-to-date basis and reiterated its commitment to be profitable for the full year. Order intake was weak in Q3 due to market uncertainty and timing (customers delaying investments), but backlog entering Q4 is higher than a year ago and management expects a gradual catch-up (some budgets may slip into 2026). Strategic highlights: shift from partner to direct sales in the Nordics (new team in place, frame agreement with Norgesgruppen), large deployments progressing (SOK: ~6 million labels across 450 stores and further rollouts expected; Sobeys deployment in Canada progressing well with continued franchise orders), and early pilots of the new offering “Pricer Avenue” (first live aisle; additional pilots in Finland, France, U.K.; potential ramp in H2 2026). Cash flow for the first 9 months is positive (SEK 16m) but working capital pressures were noted: accounts receivable rose ~SEK 120m in Q3 (timing effect) and inventory is higher than expected but management expects normalization. Currency effects (~SEK -10m vs prior year) impacted EBIT. Management emphasizes long-term market growth opportunity, strong product differentiation (patented “floating canvas”), and focus #1 on connecting customers to generate recurring revenue and upsell opportunities.